Japan's government encourages younger people to drink more to raise tax revenue
source link: https://finance.yahoo.com/video/japans-government-encourages-younger-people-212159760.html
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Japan's government encourages younger people to drink more to raise tax revenue
Japan's government encourages younger people to drink more to raise tax revenue
Yahoo Finance anchors discuss Japan's plan to stimulate the economy: Get younger people to drink more alcohol.
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Japan's government encourages younger people to drink more to raise tax revenue
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Japan's government encourages younger people to drink more to raise tax revenue
Yahoo Finance anchors discuss Japan's plan to stimulate the economy: Get younger people to drink more alcohol.
Video Transcript
DAVE BRIGGS: Here's a message you don't often hear from the government. Young people, you really should drink more alcohol. That's essentially what the Japanese government is now asking 20 to 39-year-olds. You see a recent pandemic change in attitudes there resulted in significantly less drinking and therefore lower tax revenues. Hence the need for what's called the Sake Viva campaign from the National Tax Agency.
Japanese alcohol consumption fell 25% from 1995 to 2000. This new campaign calls for new product designs and ways to promote more home drinking. Seana, what do you think?
SEANA SMITH: I have mixed reactions to this. It's interesting that this is what they're turning to help stimulate the economy. They're steering this towards people that are 20 to 39. They want them to increase their alcohol intake. They've got to be careful what they wish for because you don't want to go too far to the other side of it. But you're right. You mentioned the fact that the pandemic slowed things down in terms of consumption, declining birth rates, an aging population. So a couple of factors at play here. It's an interesting tactic, I'll give them that.
DAVE BRIGGS: They're going to have, essentially, an awards ceremony on November 10 rewarding the best campaigns and innovative ideas. So it is interesting. I think they should just do what we do here, which is legalize all sin, like sports gambling, gambling, cannabis. Find other sources of sin to tap.
SEANA SMITH: Yeah, yeah, don't rely strictly on alcohol.
DAVE BRIGGS: Right?
SEANA SMITH: I think you might be on to something.
DAVE BRIGGS: Spread the sin.
SEANA SMITH: There we go.
DAVE BRIGGS: That's my [INAUDIBLE].
SEANA SMITH: That's what we are going to leave you with this afternoon.
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